too important to fail

What wonderful, but slightly awkward timing.

Shortly after Barack Obama proposes breaking up deposit taking banks that engage in too risky business, up pops Paul Tucker, Bank of England deputy governor with responsibility for financial stability, to remind everyone that banking-style risks emerged all over the financial system in recent years, with little or no relationship to whether the entity was a deposit taking institution or not.

This was far from a deliberate spoiler, the speech was in the diary well before Read more

The Treasury Select Committee was on particularly supine form when half of the Monetary Policy Committee came to give evidence this morning, writes Chris Giles of the Financial Times, allowing Mervyn King and Pauol Tucker to paper over their differences on banking regulation. Read more